Bayerische Hypo- und Vereinsbank AG Notes for MDM Bank Rated 'B-' Jun 03
- ID: 1831777
- June 2003
- Standard & Poors
PARIS (Standard & Poor's) June 12, 2003--Standard & Poor's Ratings Services said today that it had assigned its 'B-' senior unsecured debt rating on the proposed US$300 million Programme for the Issuance of Loan Participation Notes issued by, but without recourse to, Bayerische Hypo- und Vereinsbank AG (HVB; A-/Negative/A-2). The Loan Participation Notes will be issued in series for the purpose of financing advances to MDM Bank, a Russian bank. The rights and interests of HVB as lender to MDM Bank will be charged to a trustee, J.P. Morgan Corporate Trustee Services Limited, for the benefit of the noteholders under a trust deed. The credit risk of the Loan Participation Notes wholly reflects the creditworthiness of MDM Bank. "The ratings...
Companies mentioned in this report are:
- MDM Bank (pre-merger)
- UniCredit Bank AG
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.